Going forward Jain Irrigation Systems will focus on improving the India business to drive higher growth and margin in one of the fastest growing irrigation markets in the world
The debt recast covered aspect like converting about 40 per cent of the total debt into long term non-convertible debentures at an interest rate of 0.01%
The company missed certain principal payments under its working capital facilities and S&P sees a "high likelihood" that the firm would be classified as a nonperforming asset by its bankers
